The statement of cash flows for the year ended December 31, 2016, for Bronco Metals is presented below.

BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2016
Cash flows from operating activities:
Collections from customers	$	418,000
Interest on note receivable		5,300
Dividends received from investments		3,700
Purchase of inventory		(199,000	)
Payment of operating expenses		(72,000	)
Payment of interest on note payable		(9,300	)
Net cash flows from operating activities				$	146,700
Cash flows from investing activities:
Collection of note receivable		165,000
Purchase of equipment		(284,000	)
Net cash flows from investing activities					(119,000	)
Cash flows from financing activities:
Proceeds from issuance of common stock		330,000
Dividends paid		(53,000	)
Net cash flows from financing activities					277,000
Net increase in cash					304,700
Cash and cash equivalents, January 1					27,300
Cash and cash equivalents, December 31				$	332,000

Required:

Prepare the statement of cash flows assuming that Bronco prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements. (Amounts to be deducted should be indicated with a minus sign.)